Bank Julius Baer & Co. Ltd Zurich Sells 1,224 Shares of Incyte Co. (NASDAQ:INCY)

Bank Julius Baer & Co. Ltd Zurich trimmed its stake in Incyte Co. (NASDAQ:INCY) by 67.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 603 shares of the biopharmaceutical company’s stock after selling 1,224 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Incyte were worth $46,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Point72 Asset Management L.P. bought a new position in shares of Incyte in the third quarter worth approximately $156,611,000. Mizuho Securities USA LLC increased its position in shares of Incyte by 13,814.7% in the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after purchasing an additional 1,985,726 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Incyte by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,643,067 shares of the biopharmaceutical company’s stock worth $113,487,000 after purchasing an additional 33,847 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Incyte by 7.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,127,515 shares of the biopharmaceutical company’s stock worth $77,877,000 after purchasing an additional 78,827 shares during the last quarter. Finally, Candriam S.C.A. increased its position in shares of Incyte by 27.8% in the fourth quarter. Candriam S.C.A. now owns 1,034,652 shares of the biopharmaceutical company’s stock worth $71,463,000 after purchasing an additional 224,919 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Sheila A. Denton sold 599 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the completion of the transaction, the executive vice president now directly owns 25,848 shares of the company’s stock, valued at $1,809,101.52. This represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the transaction, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,320 shares of company stock valued at $2,072,849 over the last three months. Corporate insiders own 17.60% of the company’s stock.

Wall Street Analysts Forecast Growth

INCY has been the topic of several research analyst reports. Stifel Nicolaus upped their price objective on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. JMP Securities reissued a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. UBS Group assumed coverage on shares of Incyte in a research note on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target on the stock. William Blair reissued an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. Finally, StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Incyte presently has an average rating of “Hold” and an average target price of $75.25.

Incyte Stock Performance

Shares of NASDAQ:INCY opened at $68.07 on Wednesday. The company has a market cap of $13.17 billion, a price-to-earnings ratio of 252.12, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76. The company has a 50-day moving average price of $71.85 and a 200-day moving average price of $70.29. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. As a group, equities analysts anticipate that Incyte Co. will post 4.86 EPS for the current year.

About Incyte

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.